Published On: Mon, Jun 21st, 2010

C-COM Has Resolved to Suspend Trading of Precious Metal and Oil Markets by January 2011

At the Board Meeting held on June 18, 2010, the Central Japan Commodity Exchange (C-COM) resolved the basic action plan with regard to the operations in its Precious Metal and Oil markets as follows;

1) Precious Metal Market
  The trading of Gold futures contract started on October 13, 2009, but the trading has been continuously stagnant with a low volume and open interests. Based on the result of the questionnaire recently conducted among the members of the market as well as poor prospects for the increasing volume, C-COM is to take the following steps to suspend the Precious Metal market;
– No new contract month after January 2010 is to be listed.
– For the existing contract months (June, July, August, September, November 2010 and January 2011), trading is to continue till each of the last trading days.
– However, when no open interest is outstanding in any of the contract months at the end of a certain business day, trading is going to be suspended from the immediately following business day.

2) Oil Market
  Based on the response from the Tokyo Commodity Exchange Inc. regarding the transfer of the C-COM Oil market as well as the result of the questionnaire recently conducted among the members of the market, C-COM is to take the following steps to suspend the Oil market;
– No new contract month after January 2011 is to be listed.
– For the existing (July, August, September, October, November and December 2010) and January 2011 contract months, trading is to continue till each of the last trading days.
– However, when no open interest is outstanding in any of the contract months at the end of a certain business day, trading is going to be suspended from the immediately following business day.

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